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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Diomed Holdings, | AMEX:DIO | AMEX | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
(MARK
ONE)
|
|
x
|
QUARTERLY
REPORT PURSUANT -TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF
1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30,
2007
|
o
|
TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE
ACT OF
1934 FOR THE TRANSITION PERIOD FROM ________ TO
________
|
DELAWARE
|
84-1480636
|
(State
or other jurisdiction of
|
(I.R.S.
Employer Identification No.)
|
incorporation
or organization)
|
|
1
DUNDEE PARK
|
|
ANDOVER,
MA
|
01810
|
(Address
of principal executive offices)
|
(Zip
Code)
|
(978)
475-7771
|
|
(Registrant's
telephone number)
|
|
||
Item
Number
|
|
Page
Number
|
|
Part
I -Financial Information
|
|
1
|
Unaudited
Condensed Consolidated Balance Sheets - September 30, 2007 and
December
31, 2006
|
F-1
|
|
Unaudited
Consolidated Statements of Operations -Three Months and Nine
Months Ended
September 30, 2007 and 2006
|
F-2
|
|
Unaudited
Consolidated Statements of Cash Flows - Months Ended September
30, 2007
and 2006
|
F-3
|
|
Notes
to Unaudited Consolidated Financial Statements
|
F-4
|
2
|
Management's
Discussion and Analysis or Plan of Operation
|
1
|
3
|
Controls
and Procedures
|
15
|
|
Part
II - Other Information
|
16
|
1
|
Legal
Proceedings
|
16
|
6
|
Exhibits
|
18
|
|
Signatures
|
19
|
September
30,
2007
|
December
31, 2006
|
||||||
Assets
|
|||||||
Current
assets:
|
|||||||
Cash
and cash equivalents
|
$
|
7,408,838
|
$
|
7,306,578
|
|||
Short
term investments
|
-
|
2,626,880
|
|||||
Accounts
receivable, net
|
3,114,743
|
3,144,056
|
|||||
Inventories
|
5,182,050
|
4,021,217
|
|||||
Prepaid
expenses and other current assets
|
766,231
|
268,343
|
|||||
Total
current assets
|
16,471,862
|
17,367,074
|
|||||
Property,
plant and equipment, net
|
1,225,901
|
1,260,507
|
|||||
Intangible
assets, net
|
3,651,826
|
4,006,927
|
|||||
Investment
in Luminetx
|
1,000,000
|
1,000,000
|
|||||
Other
assets
|
791,783
|
204,770
|
|||||
Total
assets
|
$
|
23,141,372
|
$
|
23,839,278
|
|||
Liabilities
and stockholders' equity
|
|||||||
Current
liabilities:
|
|||||||
Accounts
payable
|
$
|
6,775,461
|
$
|
2,970,443
|
|||
Accrued
expenses
|
3,417,293
|
2,158,157
|
|||||
Current
portion of deferred revenue
|
390,032
|
278,284
|
|||||
Current
portion of note payable
|
750,000
|
-
|
|||||
Warrant
liability
|
52,874
|
-
|
|||||
Bank
loan
|
279,065
|
223,491
|
|||||
Total
current liabilities
|
11,664,725
|
5,630,375
|
|||||
Deferred
revenue, net of current portion
|
144,677
|
110,044
|
|||||
Convertible
notes payable ($3,712,000 face value, net of $2,143,645 debt discount
at
September 30, 2007 and $3,712,000 face value, net of $2,671,285
debt
discount at December 31, 2006)
|
1,568,355
|
1,040,715
|
|||||
Note
payable ($6,000,000 face value, net of $1,722,874 debt discount
at
September 30, 2007), net of current portion (Note 10)
|
3,527,126
|
-
|
|||||
Deferred
interest
|
570,000
|
-
|
|||||
Total
liabilities
|
17,474,883
|
6,781,134
|
|||||
Commitments
and contingencies
|
|||||||
Stockholders'
equity
|
5,666,489
|
17,058,144
|
|||||
Total
liabilities and stockholders' equity
|
$
|
23,141,372
|
$
|
23,839,278
|
Three
Months Ended September 30,
|
Nine
Months Ended September 30,
|
||||||||||||
2007
|
|
2006
|
|
2007
|
|
2006
|
|||||||
Revenues
|
$
|
6,355,423
|
$
|
5,321,080
|
$
|
18,766,712
|
$
|
15,972,476
|
|||||
Cost
of revenues
|
3,540,369
|
3,042,223
|
10,321,718
|
8,786,487
|
|||||||||
Gross
profit
|
2,815,054
|
2,278,857
|
8,444,994
|
7,185,989
|
|||||||||
Operating
expenses:
|
|||||||||||||
Research and development |
467,351
|
422,596
|
1,244,868
|
1,140,170
|
|||||||||
Selling
and marketing
|
2,926,915
|
2,687,000
|
9,357,810
|
8,490,263
|
|||||||||
General
and administrative
|
2,999,162
|
1,906,886
|
9,047,734
|
5,865,439
|
|||||||||
Total
operating expenses
|
6,393,428
|
5,016,482
|
19,650,412
|
15,495,872
|
|||||||||
Loss
from operations
|
(3,578,374
|
)
|
(2,737,625
|
)
|
(11,205,418
|
)
|
(8,309,883
|
)
|
|||||
Other
(income) expense, net:
|
|||||||||||||
(Gain)
Loss on fair value adjustment on warrant liability
|
--
|
68,995
|
--
|
(971,442
|
)
|
||||||||
Interest
expense, non-cash
|
313,227
|
96,078
|
527,641
|
288,229
|
|||||||||
Interest
and other (income) expense, net
|
115,963
|
76,480
|
222,098
|
(958
|
)
|
||||||||
Total
other (income) expense, net
|
429,190
|
241,553
|
749,739
|
(684,171
|
)
|
||||||||
Net
loss
|
(4,007,564
|
)
|
(2,979,178
|
)
|
(11,955,157
|
)
|
(7,625,712
|
)
|
|||||
Less
preferred stock cash dividends
|
--
|
(149,063
|
)
|
--
|
(447,353
|
)
|
|||||||
Less
preferred stock non-cash dividends
|
--
|
(167,480
|
)
|
--
|
(483,586
|
)
|
|||||||
Less
beneficial conversion feature on 2006
preferred
stock
|
-- | (469,938) | -- | (469,938) | |||||||||
Less
deemed dividend on exchange of 2005 preferred stock
|
--
|
(2,980,439
|
)
|
--
|
(2,980,439
|
)
|
|||||||
Less
deemed dividend on 2006 preferred stock
|
(4,739,890
|
)
|
--
|
(4,739,890
|
)
|
--
|
|||||||
Net
loss applicable to common stockholders
|
$
|
(8,747,454
|
)
|
$
|
(6,746,098
|
)
|
$
|
(16,695,047
|
)
|
$
|
(12,007,028
|
)
|
|
Basic
and diluted net loss per share applicable to common
stockholders
|
$
|
(0.29
|
)
|
$
|
(0.35
|
$
|
)
(0.62
|
)
|
$
|
(0.62
|
)
|
||
Basic
and diluted weighted average common shares outstanding
|
30,067,031
|
19,448,728
|
27,029,974
|
19,447,812
|
Nine
Months Ended September 30,
|
|||||||
|
2007
|
|
2006
|
||||
Cash
Flows from Operating Activities:
|
|||||||
Net
loss
|
$
|
(11,955,157
|
)
|
$
|
(7,625,712
|
)
|
|
Adjustments
to reconcile net loss to net cash used in operating
activities:
|
|||||||
Depreciation
and amortization
|
743,524
|
690,166
|
|||||
Amortization
of EVLT(R) discount
|
--
|
4,902
|
|||||
Non-cash
interest expense
|
527,641
|
288,229
|
|||||
Accretion
of discount on marketable securities
|
(29,095
|
)
|
(105,157
|
)
|
|||
Amortization
of deferred financing costs
|
72,728
|
72,727
|
|||||
Fair
value of stock options
|
591,326
|
443,524
|
|||||
Gain
on fair value adjustment on warrant liability
|
--
|
(971,442
|
)
|
||||
Changes
in operating assets and liabilities:
|
|||||||
Accounts
receivable
|
62,374
|
194,794 | |||||
Inventories
|
(1,039,840
|
)
|
(814,835
|
)
|
|||
Prepaid
expenses and other current assets
|
(482,773
|
)
|
(269,367
|
)
|
|||
Deposits
|
(2,027
|
)
|
(6,931
|
)
|
|||
Accounts
payable
|
3,561,187
|
368,547
|
|||||
Accrued
expenses and deferred revenue
|
498,759
|
(229,365
|
)
|
||||
Net
cash used in operating activities
|
(7,451,353
|
)
(7,959,920
|
)
|
||||
Cash
Flows from Investing Activities:
|
|||||||
Purchase
of property and equipment
|
(294,271
|
)
|
(500,012
|
)
|
|||
Purchase
of available for sale securities
|
(429,987
|
)
|
(687,099
|
)
|
|||
Proceeds
from maturities of available for sale securities
|
3,086,000
|
3,800,000
|
|||||
Investment
in Luminetx
|
--
|
(250,000
|
)
|
||||
Net
cash provided by investing activities
|
2,361,742
|
2,362,889
|
|||||
Cash
Flows from Financing Activities:
|
|||||||
Net
proceeds from bank borrowings
|
55,574
|
366,595
|
|||||
Payments
on EVLT(R) purchase obligation
|
--
|
(250,000
|
)
|
||||
Dividend
payments
|
--
|
(447,353
|
)
|
||||
Proceeds
from preferred stock financing, net
|
9,349,400
|
||||||
Proceeds
from debt financing, net
|
5,142,286
|
--
|
|||||
Net
cash provided by financing activities
|
5,197,860
|
9,018,642
|
|||||
Effect
of Exchange Rate Changes
|
(5,989
|
)
|
(41,858
|
)
|
|||
Net
Increase in Cash and Cash Equivalents
|
102,260
|
3,379,753
|
|||||
Cash
and Cash Equivalents, beginning of period
|
7,306,578
|
9,562,087
|
|||||
Cash
and Cash Equivalents, end of period
|
$
|
7,408,838
|
$
|
12,941,840
|
|||
Supplemental
Disclosure of Cash Flow Information:
|
|||||||
Cash
paid for interest
|
$
|
302,411
|
$ | 275,883 | |||
Non-cash
Investing and Financing Activities:
|
|||||||
Fair
value of warrants exchanged for distribution rights
|
--
|
$
|
137,403
|
||||
Value
ascribed to debt discount related to convertible debt
|
$
|
--
|
$
|
2,255,843
|
|||
Value
ascribed to debt discount related to Hercules debt
|
$
|
1,722,874
|
$
|
--
|
|||
Fair
value adjustment on preferred stock to bring preferred stock to
its
immediately exchangeable value
|
$
|
--
|
$
|
2,980,439
|
|||
Non-cash
note payable for Luminetx investment
|
$
|
-
|
$
|
250,000
|
|||
Deemed
dividend on 2006 preferred stock
|
$
|
4,739,890
|
$
|
--
|
|
September
30,
|
|
December
31,
|
|
|||
|
|
2007
|
|
2006
|
|||
Raw
Materials
|
$
|
1,442,263
|
$
|
1,571,135
|
|||
Work-in-Process
|
1,493,272
|
797,934
|
|||||
Finished
Goods
|
2,246,515
|
1,652,148
|
|||||
|
$
|
5,182,050
|
$
|
4,021,217
|
|
September
30,
|
|||
|
2007
|
|||
Beginning
balance
|
$
|
388,328
|
||
Additions
|
893,607
|
|||
Revenue/recognized
|
(747,226
|
)
|
||
Ending
balance
|
$
|
534,709
|
|
|
Three
Months Ended
|
|
Nine
Months Ended
|
|
||||||||
|
|
September
30,
|
|
September
30,
|
|
||||||||
|
|
2007
|
|
2006
|
|
2007
|
|
2006
|
|||||
Net
loss
|
$
|
(4,007,564
|
)
|
$
|
(2,979,178
|
)
|
$
|
(11,955,157
|
)
|
$
|
(7,625,712
|
)
|
|
Unrealized
holding gain (loss)
|
|||||||||||||
on
marketable securities
|
-
|
29
|
-
|
(202
|
)
|
||||||||
Foreign
currency translation adjustment
|
59,824
|
37,559
|
89,893
|
164,378
|
|||||||||
Comprehensive
loss
|
$
|
(3,947,740
|
)
|
$
|
(2,941,590
|
)
|
$
|
(11,865,264
|
)
|
$
|
(7,461,536
|
)
|
|
Unrealized
|
Unrealized
|
|||||||||||
|
Amortized
Cost
|
Fair
Value
|
Gains
|
Losses
|
|||||||||
Money
Market Funds
|
$
|
594,238
|
$
|
594,238
|
$
|
--
|
$
|
--
|
|
Unrealized
|
Unrealized
|
|||||||||||
|
Amortized
Cost
|
Fair
Value
|
Gains
|
Losses
|
|||||||||
Cash
and Cash
|
|||||||||||||
Equivalents
|
$
|
594,238
|
$
|
594,238
|
$
|
--
|
$
|
--
|
|
|
Unrealized
|
Unrealized
|
||||||||||
|
Amortized
Cost
|
Fair
Value
|
Gains
|
Losses
|
|||||||||
Money
Market Funds
|
$
|
2,521,968
|
$
|
2,521,968
|
$
|
--
|
$
|
--
|
|||||
Commercial
Paper
|
6,063,871
|
6,064,172
|
301
|
--
|
|||||||||
|
$
|
8,585,839
|
$
|
8,586,140
|
$
|
301
|
$
|
--
|
|
|
|
Unrealized
|
Unrealized
|
|||||||||
|
Amortized
Cost
|
Fair
Value
|
Gains
|
Losses
|
|||||||||
Cash
and Cash
|
|||||||||||||
Equivalents
|
$
|
5,958,921
|
$
|
5,959,260
|
$
|
339
|
$
|
--
|
|||||
Short
term investments
|
2,626,918
|
2,626,880
|
--
|
38
|
|||||||||
|
$
|
8,585,839
|
$
|
8,586,140
|
$
|
339
|
$
|
38
|
|
Three
Months Ended
|
Nine
Months Ended
|
|||||||||||
|
September
30,
|
September
30,
|
|||||||||||
|
2007
|
|
2006
|
|
2007
|
|
2006
|
||||||
Common
Stock Options
|
3,676,199
|
2,423,787
|
3,676,199
|
2,423,787
|
|||||||||
Common
Stock Warrants
|
6,492,110
|
6,055,303
|
6,492,110
|
6,055,303
|
|||||||||
Convertible
Debt
|
5,302,857
|
3,227,826
|
5,302,857
|
3,227,826
|
|||||||||
Preferred
Stock
|
11,066,358
|
17,354,347
|
11,066,358
|
17,354,347
|
|
Range
of
|
Number
|
Weighted
Average
|
Weighted
Average
|
|||||||||
|
Exercise
Price
|
of
Shares
|
Exercise
Price
|
Remaining
Life
|
|||||||||
Outstanding,
December 31, 2006
|
$
|
0.96
- $205.75
|
2,478,376
|
$ | 4.63 | ||||||||
Granted
|
0.78
- 1.41
|
1,480,218
|
0.86
|
||||||||||
Forfeited
|
0.81
- 179.60
|
(282,379
|
)
|
4.18
|
|||||||||
Expired
|
205.75
|
(16
|
)
|
205.75
|
|||||||||
Outstanding,
September 30, 2007
|
$
|
0.78
- $205.75
|
3,676,199
|
$
|
3.14
|
8.08
|
|||||||
Exercisable,
September 30, 2007
|
$
|
0.78
- $205.75
|
2,235,292
|
$
|
4.47
|
7.26
|
Nine
Months Ended
September
30,
|
|||||||
2007
|
2006
|
||||||
Risk-free
interest rate
|
4.66
|
%
|
4.37
|
%
|
|||
Expected
dividend yield
|
--
|
%
|
--
|
%
|
|||
Expected
lives (in years)
|
2.5
- 5.8 years
|
2.5
- 5.9 years
|
|||||
Expected
volatility
|
66.4
- 88.5
|
%
|
71.2
- 89.3
|
%
|
OUTSTANDING
|
EXERCISABLE
|
|||||||||||||||
Weighted
Average
|
Weighted
Average
|
|||||||||||||||
Exercise
Price
|
Shares
|
Remaining
Life*
|
Exercise
Price
|
Shares
|
Exercise
Price
|
|||||||||||
$
0.78 - 0.81
|
1,278,000
|
9.55
|
$
|
0.80
245,123
|
$
|
0.81
|
||||||||||
0.82
- 2.16
|
365,232
|
8.41
|
1.37
|
164,653
|
1.58
|
|||||||||||
2.17
- 4.00
|
713,284
|
8.00
|
2.44
|
505,833
|
2.50
|
|||||||||||
4.01
- 4.75
|
664,979
|
7.06
|
4.25
|
664,979
|
4.25
|
|||||||||||
4.76
- 5.00
|
539,900
|
6.41
|
5.00
|
539,900
|
5.00
|
|||||||||||
5.01
- 11.50
|
94,211
|
5.37
|
8.71
|
94,211
|
8.71
|
|||||||||||
11.51
- 49.00
|
6,260
|
3.74
|
31.15
|
6,260
|
31.15
|
|||||||||||
49.01
- 87.00
|
4,700
|
4.31
|
51.06
|
4,700
|
51.06
|
|||||||||||
87.01
- 164.00
|
3,329
|
0.77
|
118.27
|
3,329
|
118.27
|
|||||||||||
164.01
- 205.75
|
6,304
|
0.55
|
174.21
|
6,304
|
174.21
|
|||||||||||
|
3,676,199
|
$
|
3.14
|
2,235,292
|
$
|
4.47
|
Weighted
Average
|
|||||||||||||
Range
of
|
Number
of
|
Weighted
Average
|
Remaining
Contractual
|
||||||||||
Exercise
Price
|
Shares
|
Exercise
Price
|
Life
(In Years)
|
||||||||||
Outstanding,
December 31, 2006(i, ii)
|
$
|
0.025
- $2.90
|
6,055,303
|
$
|
1.63
3.36
|
||||||||
Granted
to 2005 PIPE Holders(iii)
|
1.75
|
300,855
|
1.75
|
3.00
|
|||||||||
Granted
to Placement Agent 2006(iv)
|
1.01
|
48,995
|
1.01
|
4.00
|
|||||||||
Granted
to Placement Agent 2007(v)
|
0.70
|
86,957
|
0.70
|
5.00
|
|||||||||
Outstanding,
September 30, 2007
|
$
|
0.025
- $2.90
|
6,492,110
|
$
|
1.35
|
2.65
|
|||||||
Exercisable,
September 30, 2007
|
$
|
0.025
- $2.90
|
6,492,110
|
$
|
1.35
|
2.65
|
|
Three
Months Ended
|
|
Nine
Months Ended
|
|
|||||||||
|
|
September
30,
|
|
September
30,
|
|
||||||||
|
|
2007
|
|
2006
|
|
2007
|
|
2006
|
|||||
Laser
systems
|
$
|
1,877,753
|
$
|
1,980,183
|
$
|
6,054,334
|
$
|
6,125,422
|
|||||
Fibers,
accessories, and service
|
4,477,670
|
3,340,897
|
12,712,378
|
9,847,054
|
|||||||||
Total
|
$
|
6,355,423
|
$
|
5,321,080
|
$
|
18,766,712
|
$
|
15,972,476
|
|
%
of Revenue
|
Long-lived
Assets
|
|||||||||||
|
Nine
Months Ended September 30,
|
||||||||||||
|
|
|
September
30,
|
December
31,
|
|||||||||
|
2007
|
2006
|
2007
|
2006
|
|||||||||
United
States
|
70
|
%
|
75
|
%
|
$
|
6,209,961
|
$
|
5,994,202
|
|||||
Asia/Pacific
|
10
|
%
|
9
|
%
|
--
|
--
|
|||||||
Europe
|
14
|
%
|
12
|
%
|
446,888
|
478,002
|
|||||||
Other
|
6
|
%
|
4
|
%
|
12,661
|
--
|
|||||||
Total
|
100
|
%
|
100
|
%
|
$
|
6,669,510
|
$
|
6,472,204
|
· |
the
conversion price of the 2004 Debentures ($3.712 million principal
amount
outstanding at September 28, 2007) was reduced from $1.15 per share
of
common stock to $0.70 per share, which, when converted, will increase
the
number of shares of common stock to be issued from to 3,227,826 to
5,302,857, or, 2,075,031 shares;
|
· |
the
exercise price of the warrants to purchase 2,657,461 shares of common
stock issued to the investors in the Company’s financing transaction
completed October 28, 2004 (the “2004 Warrants”) was reduced from $1.15 to
$0.70 per share of common stock;
|
· |
the
exercise price of the warrants to purchase 2,272,000 shares of common
stock issued to the investors in the Company’s financing transaction
completed September 30, 2005 (the “2005 Warrants”) was reduced from $1.98
to $1.75 per share, and the number of shares of common stock issuable
upon
exercise of the 2005 Warrants will increase from 2,272,000 to 2,572,855,
an increase of 300,855 shares;
|
· |
the
exercise price of the warrants to purchase 370,000 shares of common
stock
issued to the designees of the Registrant’s former placement agent, Musket
Research Associates, Inc., in the Registrant’s financing transaction
completed September 29, 2006 (the “MRA Warrants”) was reduced to $1.01 per
share, and the number of shares of the common stock issuable upon
exercise
of the MRA Warrants will increase from 370,000 to 418,995, an increase
of
48,995 shares;
|
· |
the
exercise price of warrants to purchase 73,539 shares of the common
stock
issued to designees of the Company’s former placement agent, Sunrise
Securities Corp. (the “Sunrise Warrants”), will be reduced from $1.15 to
$0.70 per share.
|
Description
of Security
|
Current
Number of Underlying Common Shares
|
Number
of Underlying Shares following Transaction
|
Net
Increase in Underlying Common Shares
|
|||||||
Lender
Warrants
|
0
|
86,957
|
86,957
|
|||||||
Preferred
Stock
|
6,736,044
|
11,066,358
|
4,330,314
|
|||||||
2004
Debentures
|
3,227,826
|
5,302,857
|
2,075,031
|
|||||||
2004
Warrants
|
2,657,461
|
2,657,461
|
0
|
|||||||
2005
Warrants
|
2,272,000
|
2,572,855
|
300,855
|
|||||||
MRA
Warrants
|
370,000
|
418,995
|
48,995
|
|||||||
Sunrise
Warrants
|
73,539
|
73,539
|
0
|
|||||||
TOTAL
|
6,842,152
|
- |
increased
penetration in the EVLT(R) market,
|
- |
the
compounding impact of the recurring revenue stream from disposable
sales
to both new and existing customers,
and
|
- |
the
impact of increased acceptance of the EVLT(R) procedure and expanded
reimbursement coverage by health care insurers.
|
· |
the
conversion price of the 2004 Debentures ($3.712 million principal
amount
outstanding at September 28, 2007) was reduced from $1.15 per share
of
common stock to $0.70 per share, which, when converted, will increase
the
number of shares of common stock to be issued from to 3,227,826
to
5,302,857, or, 2,075,031 shares;
|
· |
the
exercise price of the warrants to purchase 2,657,461 shares of
common
stock issued to the investors in our financing transaction completed
October 28, 2004 (the “
2004
Warrants
”)
was reduced from $1.15 to $0.70 per share of common stock;
|
· |
the
exercise price of the warrants to purchase 2,272,000 shares of
common
stock issued to the investors in our financing transaction completed
September 30, 2005 (the “
2005
Warrants
”)
was reduced from $1.98 to $1.75 per share, and the number of shares
of
common stock issuable upon exercise of the 2005 Warrants will increase
from 2,272,000 to 2,572,855, an increase of 300,855 shares;
|
· |
the
exercise price of the warrants to purchase 370,000 shares of common
stock
issued to the designees of our former placement agent, Musket Research
Associates, Inc., in our financing transaction completed September
29,
2006 (the “
MRA
Warrants
”)
was reduced to $1.01 per share, and the number of shares of the
common
stock issuable upon exercise of the MRA Warrants will increase
from
370,000 to 418,995, an increase of 48,995 shares;
|
· |
the
exercise price of warrants to purchase 73,539 shares of the common
stock
issued to designees of our former placement agent, Sunrise Securities
Corp. (the “
Sunrise
Warrants
”),
will be reduced from $1.15 to $0.70 per
share.
|
Description
of Security
|
Current
Number of Underlying Common Shares
|
Number
of Underlying Shares following Transaction
|
Net
Increase in Underlying Common Shares
|
|||||||
Lender
Warrants
|
0
|
86,957
|
86,957
|
|||||||
Preferred
Stock
|
6,736,044
|
11,066,358
|
4,330,314
|
|||||||
2004
Debentures
|
3,227,826
|
5,302,857
|
2,075,031
|
|||||||
2004
Warrants
|
2,657,461
|
2,657,461
|
0
|
|||||||
2005
Warrants
|
2,272,000
|
2,572,855
|
300,855
|
|||||||
MRA
Warrants
|
370,000
|
418,995
|
48,995
|
|||||||
Sunrise
Warrants
|
73,539
|
73,539
|
0
|
|||||||
TOTAL
|
6,842,152
|
31.1 |
Certification
by the Chief Executive Officer pursuant to Section 302 of
the
Sarbanes-Oxley Act of 2002
|
31.2 |
Certification
by the Chief Financial Officer pursuant to Section 302 of
the
Sarbanes-Oxley Act of 2002
|
32.1 |
Certification
of Principal Executive Officer pursuant to Section 906 of
the
Sarbanes-Oxley Act of 2002
|
32.2 |
Certification
of Principal Financial Officer pursuant to
Section 906 of
the
Sarbanes-Oxley Act of
2002
|
DIOMED HOLDINGS, INC. | |||
(REGISTRANT) | |||
By:
|
/s/
JAMES A. WYLIE, JR.
|
||
Name:
James A. Wylie, Jr.
|
|||
Title:
President and Chief Executive
|
|||
Officer,
Director
|
|||
|
|||
Date:
November 14, 2007
|
|||
|
|||
|
|||
By:
/s/ DAVID B. SWANK
|
|||
Name:
David B. Swank
|
|||
Title:
Chief Financial Officer,
|
|||
Director
|
|||
|
|||
Date:
November 14, 2007
|
1 Year Diomed Chart |
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